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BUSN 603 Problem Set 1

BUSN 603 Problem Set 1

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Author: Dannie Young
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Part 1 of 2 - Part 1

50.0 Points

This part of the question is based on the following information.
Gina Fox has started her own company, Foxy Shirts, which manufactures imprinted shirts for special occasions. Since she has just begun this operation, she rents the equipment from a local printing shop when necessary. The cost of using the equipment is $350. The materials used in one shirt cost $8, and Gina can sell these for $15 each
1.If Gina sells 20 shirts, her total revenue will be _________.
2.If Gina sells 20 shirts, her total variable cost will be _________.
3.Based on the above information, Gina must sell __ shirts to break even. (Hint: Please enter a single number only and round it to an integer if necessary. No decimal points.) 
4. Based on the calculation in the previous question, Gina's total revenue at the breakeven point of output is __ . (Hint: Please enter a single number only and round it to an integer if necessary. No decimal points.) 
 
Part 2 of 2 - Part 2

50.0 Points

This part of the question is based on the following information.
Farris Billiard Supply sells all types of billiard equipment, and is considering manufacturing their own brand of pool cues. Mysti Farris, the production manager, is currently investigating the production of a standard house pool cue that should be very popular. Upon analyzing the costs, Mysti determines that the materials and labor cost for each cue is $25, and the fixed cost that must be covered is $2,400 per week
 
5. If Mysti sells 20 units at a price of $40 each, her total revenue will be _________.
6.If Mysti sells 20 cues, her total variable cost will be _________.
7. Based on the above information, Mysti must sell __ units to break even. (Hint: Please enter a single number only and round it to an integer if necessary. No decimal points.) 
8. Based on the calculation in the previous question, Mysti's total revenue at the breakeven point of output is ___ . (Hint: Please enter a single number only and round it to an integer if necessary. No decimal points.) 


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